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Danish energy company and the world's largest developer/operator of offshore wind farms, mainly in Europe and the US.
Danish energy company and the world's largest developer/operator of offshore wind farms, mainly in Europe and the US.
Sells electricity from offshore wind farms, largely at prices fixed under long-term, government-backed contracts, and recycles capital by selling minority stakes in finished farms. The Danish state is the controlling shareholder. As DONG Energy it ran oil, gas and coal power until it sold its oil and gas arm in 2017 and renamed itself.
In one line: No direct US peer; a pure-play offshore wind utility..
Moat: narrow (scale, process know-how, installed base). Deepest offshore wind construction/operating experience globally, though capital-intensive and increasingly contested.
Headquarters: Fredericia, Denmark · Founded: 2006 · Employees: 7,896
Size Orsted (ORSTED.CO) is a Denmark Utilities company (Electric Utilities) with a market value of $29.5B, the 8th largest of 59 Denmark companies the cockpit tracks. Shares closed at DKK 148.70 on 6 Nov 2026.
Performance Over six months the shares fell 8.4%, against -0.5% for the median peer and +8.8% for the Denmark market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 14.7% over the last twelve months (peer median +7.1%); the operating margin is 1.5% (peer median 24.5%).
Valuation It trades at 20.4× forward earnings against a peer median of 17.0× (7th most expensive of 20).
Capital Return on invested capital runs 4.5 points below its cost of capital (5.0% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | DKK 73.7B | DKK 63.6B | DKK 58.8B | DKK 69.1B | DKK 108B |
| Revenue growth | — | +8% | -15% | -36% | — |
| Gross profit | DKK 1.11B | -DKK 1.72B | -DKK 2.58B | -DKK 1.12B | DKK 6.85B |
| EBITDA | DKK 11.4B | DKK 8.48B | DKK 7.64B | DKK 8.67B | DKK 16.6B |
| Net income | -DKK 3.12B | DKK 1.73B | -DKK 923M | -DKK 21.1B | DKK 14.5B |
| Free cash flow | -DKK 24.0B | -DKK 31.7B | -DKK 25.0B | -DKK 10.2B | -DKK 21.6B |
| Capital expenditure | DKK 48.4B | DKK 54.8B | DKK 42.8B | DKK 38.2B | DKK 33.0B |
| Total debt | DKK 122B | DKK 129B | DKK 118B | DKK 107B | DKK 91.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Orsted ORSTED.CO | $29.5B | -8% | +15% | 2% | 20.4× | n/a |
| Rwe RWE.DE | $50.4B | +2% | -34% | 0% | 18.6× | n/a |
| Iberdrola IBE.MC | $168B | +16% | +1% | 21% | 21.9× | 11.4% |
| Equinor EQNR.OL | $102B | +12% | +2% | 33% | 7.2× | -15.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ORSTED.CO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.8% | +6.1% | highest of 21 |
| 6-month return | -8.4% | -0.5% | 5th lowest of 21 |
| Distance from 52-week high | -13.7% | -9.4% | 6th lowest of 21 |
| Revenue growth (TTM) | +14.7% | +7.1% | 2nd highest of 21 |
| Operating margin | 1.5% | 24.5% | lowest of 21 |
| Forward P/E | 20.4× | 17.0× | 7th most expensive of 20 |
| ROIC minus cost of capital | -4.5 pp | -1.1 pp | lowest of 21 |
| EV / EBITDA | 21.6× | 12.4× | most expensive of 18 |
| Net debt / EBITDA | 3.6× | 5.3× | 4th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Orsted ORSTED.CO | Denmark | $29.5B | -8% | +15% | 2% | 20.4× | n/a | n/a |
| China National Nuclear Power 601985.SS | China | $29.8B | +7% | -2% | 27% | 26.1× | n/a | n/a |
| PG&E PCG | United States | $28.6B | -19% | +4% | 20% | 7.4× | n/a | n/a |
| Huaneng Lancang River Hydropower 600025.SS | China | $30.7B | +15% | +4% | 48% | 23.1× | 3.8% | +6.6% |
| DTE Energy DTE | United States | $28.1B | -3% | +18% | 13% | 16.6× | n/a | n/a |
| Fortis FTS.TO | Canada | $31.0B | +11% | +4% | 28% | 22.5× | n/a | n/a |
| Ameren AEE | United States | $31.2B | +4% | +4% | 25% | 20.0× | n/a | n/a |
| CenterPoint Energy CNP | United States | $27.0B | -2% | +8% | 24% | 19.9× | n/a | n/a |
| PPL PPL | United States | $26.9B | 0% | +7% | 24% | 17.0× | n/a | n/a |
| CGN Power 1816.HK | Hong Kong | $32.3B | -1% | -16% | 31% | 13.8× | n/a | n/a |
| FirstEnergy FE | United States | $26.9B | +5% | +12% | 19% | 16.1× | n/a | n/a |
| Eversource Energy ES | United States | $26.3B | +6% | +8% | 22% | 14.3× | -8.6% | +8.8% |
| NTPC NTPC.NS | India | $33.2B | -19% | +7% | 20% | 12.3× | n/a | n/a |
| Clp 0002.HK | Hong Kong | $26.1B | +7% | -2% | 16% | 17.9× | 1.6% | +2.0% |
| Power Grid Corporation of India POWERGRID.NS | India | $25.6B | -17% | +3% | 55% | 14.4× | n/a | n/a |
| Hydro One H.TO | Canada | $24.7B | -2% | +9% | 24% | 24.5× | n/a | n/a |
| ENBW Energie Baden-Wuerttemberg EBK.DE | Germany | $24.2B | -3% | +9% | 5% | n/a | 5.2% | +11.8% |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
| Fortum FORTUM.HE | Finland | $23.3B | +15% | +14% | 17% | 23.4× | 9.2% | -36.7% |
| Edison International EIX | United States | $22.8B | -14% | +3% | 27% | 9.2× | n/a | n/a |
| WEC Energy WEC | United States | $38.1B | +5% | +8% | 25% | 21.6× | n/a | n/a |